The report on the FY 2024 Preliminary Budget includes the Comptroller’s office’s economic forecast and analysis of budgetary risks facing the City of New York, including updated analysis of the cost of collective bargaining agreements and the provision of services for asylum seekers.
Employee retention and recruitment for City agencies continue to be areas of concern as the City of New York engages in the annual cycle of setting the City’s financial priorities. As a follow-up to December’s report, Title Vacant, the Comptroller’s Office compared staff vacancies as of October 2022
The City began FY 2023 (FY23) with $8.159 billion in cash-on-hand, versus $8.469 billion at the same time last year. During the first half of fiscal year 2023 (1H23), the City’s cash balances averaged $8.126 billion, compared to $7.274 billion at the same time last year.
In this report, tax receipts, with the exception of personal income tax, are gross of refunds. Real property tax and personal income tax are gross of debt service funding.
This report is divided into two sections. The first section covers audits, special reports and analysis of City agencies and public authorities with identified fiscal outcomes. The second section covers audits and special reports that focused on operational impact.
Communication from the Comptroller - Submitting Statement of Debt Service as of January 12, 2023, containing a schedule of the appropriations required during the ensuing fiscal year for debt service, pursuant to Section 242 of the New York City Charter.
Report utilizes broader methodology and offers detailed recommendations designed to support Mayor Adams’ commitment to double the rate of M/WBE procurement.
The minimum wage for New York City more than doubled between 2013 and 2020, as a result of State legislation, but its purchasing power has been eroded by the high rate of inflation in the wake of the COVID-19 pandemic. Two different legislative proposals in Albany aim to address the issue.